In addition, the concept of ethics in management has also itself evolved over a period of time such that what is ethical can no longer be determined by your gut feeling, your conscience. Like guilty feelings these intuitions may tell us that something is wrong but not necessarily what is right. So in a way, when you refrain from doing something wrong, you know you shall not be carrying a guilty conscience in long run. So that assurance, is also a pay off. Further, it is to be noted that what is ethical cannot be brought down from a mountain top carved in tablets of stone. Ethical standards, whether formal or informal have changed considerably. We cannot say that Ethical Standards have fallen or that the society has drifted. It is the reverse – – the issue is not just having the standards but living up to them. So if you believe in the ethical benchmark, there shall be a constant challenge to yourself to reach that benchmark and prove your strengths to the society. That is again a way of pay off in the long run. Business corporations of today are much bigger than in the past and the impact of their operations on the society is much larger. In this regard, it only makes sense to be ethical as it has a good potential for thoughtless actions as its long term consequences.
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